Tag Archives: FATCA

Is The United States An Empire? | Avoiding the British Empire 1

To some extent, today’s video is about what empire means. Is it just about territory? I think not. Later in the week we will show how the British Empire quickly disintegrated after it lost something more intangible: its “informal empire”. This concept is pretty amorphous, and as I think about the way I’m using it this week, I think I may not do a very good job of sticking to just one definition either. Informal Empire includes what is currently known as “soft power”, the financial and cultural weight that a society has, distinct from its military power. But I consider some aspects of military power to be part of “informal empire” as well. If you are undertaking some sort of quick punitive expedition to get people to act more in accordance with your wishes, I think that’s informal empire too. Obviously, when we’re talking about military action, the lines between informal and formal empire become less clear.

I think my definition of informal empire probably includes everything that is not formal empire. If you’re not planting a flag, or a near century-long “temporary presence” like the British had in Egypt, we’re talking informal empire. US military bases abroad are formal empire. Everything else the US does in those countries, from the bankers to the diplomats, to the fact that people in that country love Apple iPhones… is informal empire. I hope this has been clarifying rather than mystifying, and I hope you enjoy today’s video “Is the United States an Empire?”

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Video Transcript after the jump…

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The EU Declares Independence | Instex | Iran Sanctions 2

Today’s video sort of unintentionally ended up being the second video in a series dealing with the ramifications of Donald Trump’s destruction of the Iran Nuclear Deal last year. The more I think about it, the better an “Iran Sanctions” series sounds. It’s interesting how much that one terrible decision will end up driving world politics for the next couple years, if not the next couple decades. Almost every day we see things happening that can in part be traced back to it, including Germany’s reluctance to act against Huawei the way the US wants, reported today.

Today’s video focuses on INSTEX, the new European exchange that is the first stab at building a post-dollar trading and banking system. It may seem like a boring topic, but if you understand it, whole volumes of current and future geopolitical maneuvering will be revealed to you. Today’s video does what very few do, and attempts to describe the history of the secondary sanctions imposed by the US in an engaging way. Supposedly journalism is a first draft of history. I’m kind of excited by the fact that nobody else is attempting that draft this way. I could be wrong, but I’m guessing that a history focusing through the lens of the Iran Sanctions will provide a clearer picture of the 2020s than anything else.

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Why the Huawei CFO Arrest Is Crazy | Iran Sanctions

Today’s video skirts an interesting question. How much do the US people know about the power our government, financial and legal sectors exercise in the world? My sense is not much. I have this, perhaps naive, hope that if they did have a better sense of that power, they would want the US government to use that power more responsibility. Instead, at this point we’ve got a government and media that actively misleads the people on this topic, and often misleads itself.

A key part of Washington DC’s ability to benefit from ever increasing defense budgets is keeping people scared. Emphasizing that US financial and legal power is capable of shutting down almost any real threat would kind of sabotage that effort. So we pretend that places like Russia and China are somehow independent actors that can do us harm, rather than stakeholders than are almost as wrapped up in benefiting from the status quo as the US is. I dunno. It’s something I think about a lot.

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Video Transcript after the jump…

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